Pursuit Dynamics plc is a UK based research and development company, which was founded in 2000 to develop and commercialise a revolutionary pumping and propulsion technology. Pursuit Dynamics (symbol: PDX) was listed on the Alternative Investment Market of the London Stock Exchange in May 2001.



PDX 25 Sonic.

The PDX Technology is a steam-based system that has applications in both pumping and marine propulsion. It is cheap to manufacture, extremely robust, contains no moving parts and is virtually impossible to block. Pursuit Dynamics owns 100% of the Intellectual Property Rights that surround the PDX Technology.



Pursuit Dynamics is now working towards the commercialisation of the technology it has developed.





Corporate website : http://www.pursuitdynamics.com/


Pursuit are rumoured to be close to closing their first deals, which may be in the food processing industry.

I wish I had listened to EK on this one ...what a short...

And Cenkos and Mirabaud said to would go to 1100p. Some useless tip.

Investors’ gamble on Pursuit Dynamics (LSE: PDX.L - news) failed to pay off as more than three-quarters of the technology company’s market value was wiped out after it disclosed that it had lost out on a potential contract with Procter & Gamble.

Pursuit, whose technologies are used to save energy and speed up mixing and heating processes, announced a joint development agreement with the American consumer giant in late 2010. But P&G has decided not to pursue further evaluation or development of Pursuit’s technology at this stage and will not be entering into exclusive licensing discussions with the company.

The news came after Pursuit saw a sharp slide in its shares last week, prompting the company to say on Friday that it knew of no reason for the falls and that its discussions with P&G were “nearing an outcome”.

It is thought that Pursuit learnt of P&G’s decision on Friday evening, after the market closed, and the announcement was made yesterday morning.

Jeremy Pelczer, Pursuit’s interim chief executive, said he was “obviously extremely disappointed with the decision”. As a result of P&G’s move, Pursuit’s annual revenues will be “materially below the company’s earlier expectations”.

Shares in Pursuit, which a year and a half ago were trading at a high of 732½p, slumped 56¼, or 79.2pc, to 14¾p.

The disappointment was the latest setback for Pursuit shareholders.

In December, the company called on shareholders for £9.4m with a rights issue at 100p a share eight months after raising £8m via a placing at 250p at the same time as reporting an increased £15.3m loss and the resignation of its chief executive.

Paul Kavanagh, of Killik Capital, described the loss of P&G as a “significant blow” for Pursuit.

“They’ve got a tough job in the next few weeks in establishing with their lead investors as to what the right route for the business going forward is and whether there is sufficient in the technology to push shareholder patience further,” he added.

Pursuit said it would speed up a strategic review of the business to allow for an update to be provided by the end of June.

Pursuit’s slide aside, the market was on perkier form following a torrid time last week. Even though the weekend’s G8 summit brought little to reassure investors beyond the usual platitudes, the FTSE 100 (Euronext: VFTSE.NX - news) gained 36.86 points to 5,304.48. Bargain-hunting helped the index rise, as did comments from Chinese policymakers suggesting that they could take measures to spur growth.

I think shareholders' confidence has been irreversibly eroded in this company. And turnover has never been significant. It was the most over-valued share on the market.

Did they operate out of a small shed in Harlow town.

Royston

Close..

I believe they may be a good punt at 4p.






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I was in there starting 10 years ago and had an excellent time selling eventually at 700p

I fail to understand why this isn't just a re-invention of the Injector. What's new about it, Patent or not? Anyone read their Patent, is it for some tiny improvement, perhaps? I never held for that reason.
(Injectors were invented in the 19c.)
Oakapples did well, but PDX was being pumped-up by the potential of P&G, and it's been downhill ever since. What Dirs should have done was to secure alternative industries using the P&G (Reported in the press, waasn't it?), to lever their position...Eggs/Basket springs to mind, but Dirs were well-pleased with P&G and thought they had it in the bag . . . . did P&G get a whiff of that and feared being beholden to a tiny UK business? A JV with P&G would have helped enormously.
Mitzy do you mean 14p...?

At first Mirabaud said PDX would go to 1100p now less than 10p and Mirabaud has also jump ship. These brokers!



Mirabaud no longer broker to Pursuit Dynamics


Pursuit Dynamics (LON:PDX) has confirmed Mirabaud Securities LLP is no longer broker to the Company.

Over priced.

5p to buy.

The share price seems to be rising like phoenix :-0)

As (I think) posted before - the chart brings new meaning to 'ground effect'. :-)

Where's Gausie ???

:-)

Dil: Good question maybe he's busy closing his short!!

He is here celebrating in his PDX tee shirt. The can of sardines however is a whole new story :)

I'm guessing that's from last century! :-)

Not quite 2003

Pinsticker's bald patch ???